192 Amendments of Sergio Gaetano COFFERATI related to 2009/0161(COD)
Amendment 28 #
Proposal for a directive – amending act
Recital 6
Recital 6
(6) In order for the European System of Financial Supervisors to work effectively, changes to CommunityUnion legislation in the field of operation of the three Authorities are necessary. These changes concern the definition of the scope of certain powers of the European Supervisory Authorities, the integration of certain powers in existing processes established in relevant Communityestablished in Union legislation and amendments to ensure a smooth and effective functioning in the context of the European System of Financial Supervisors.
Amendment 29 #
Proposal for a directive – amending act
Recital 7 a (new)
Recital 7 a (new)
(7a) The regulations establishing the ESFS provide that, in the areas specifically set out in the relevant legislation, the ESA may develop draft technical standards, to be submitted to the Commission for adoption in accordance with Articles 290 and 291 of the Treaty on the Functioning of the European Union by means of delegated or implementing acts.
Amendment 30 #
Proposal for a directive – amending act
Recital 7 b (new)
Recital 7 b (new)
(7b) The relevant legislation should define those areas in which the ESA are empowered to develop draft technical standards and how they should be adopted. While in the case of delegated acts the relevant legislation must lay down the elements, conditions and specifications as detailed in Article 290 of the Treaty on the Functioning of the European Union, in the case of implementing acts the rules and general principles concerning mechanisms for control must be defined in advance in accordance with Article 291 of the Treaty on the Functioning of the European Union.
Amendment 31 #
Proposal for a directive – amending act
Recital 9
Recital 9
(9) Matters subject to technical standards should be genuinely technical, where their development requires the expertise of supervisory experts. The technical standards should determine the conditions of application of the rules included in basic instruments adopted by the European Parliament and the Council and, where applicable, in Commission implementing measures without amending non-essential elements of those acts, inter alia by deleting some of those elements or by supplementing the act by the addition of new non-essential elements. Technical standards should not therefore involve policy choices. In cases where the technical standards are designed to determine the conditions of application of a Commission implementing measure, they should only be developed once the Commission implementing measure has been adopted. In certain cases where at present the Commission is empowered to adopt implementing measures in accordance with committee procedures pursuant to Council Decision 1999/468/EC of 28 June 1999 laying down the procedures for the exercise of implementing powers conferred on the Commission, adopted as delegated acts (level 2 measures under the Lamfalussy financial architecture) should further develop, specify and determine the conditions for consistent harmonisation and uniform application of the rules included in basic instruments adopted by the European Parliament and the Council, supplementing or amending certain non- essential elements of the legislative act. On the other hand, the content of those implementing measures is limited to determining the conditions of application of rules included in the basic instruments, which do not require further supplementing, it is appropriate for the sake of consistency to introduce the procedure for adoption of technical standards provided for in Article 7 of Regulations (EC) No. …/…[EBA], No. …/… [ESMA], and No. …/… [EIOPA]echnical standards adopted as implementing acts cannot amend any element of legally binding Union acts. Technical standards should not involve policy choices.
Amendment 33 #
Proposal for a directive – amending act
Recital 9 a (new)
Recital 9 a (new)
(9a) In the case of delegated acts it is appropriate, for the sake of consistency, to introduce the procedure for adoption of technical standards provided for in Article 7 of Regulations (EC) No. …/…[EBA], No. …/… [ESMA], and No. …/… [EIOPA]. Where the technical standards are designed to determine the conditions of application of a level 2 measure, they should be adopted after adoption of the relevant level 2 measure.
Amendment 34 #
Proposal for a directive – amending act
Recital 9 b (new)
Recital 9 b (new)
(9b) In accordance with the precautionary principle on supervision, binding technical standards should not prevent Member States' competent authorities from requiring additional information or imposing additional or more stringent requirements than those specified in the relevant legislative acts which they develop, when they allow for such prudential discretion.
Amendment 36 #
Proposal for a directive – amending act
Recital 15 a (new)
Recital 15 a (new)
(15a) Confidential information transmitted to or exchanged between competent authorities and the European Securities and Markets Authority or the European Systemic Risk Board should be covered by the obligation of professional secrecy, to which the persons employed or formerly employed by the competent authorities receiving the information are subject.
Amendment 39 #
Proposal for a directive – amending act
Article 2 – point 3
Article 2 – point 3
Directive 2002/87/EC
Chapter III – title
Chapter III – title
Amendment 40 #
Proposal for a directive – amending act
Article 2 – point 3 a (new)
Article 2 – point 3 a (new)
Directive 2002/87/EC
Article 20 – paragraph 1
Article 20 – paragraph 1
(3a) The first subparagraph of Article 20(1) is replaced by the following: "1. The Commission shall adopt by means of delegated acts the [...] adaptations to be made to this Directive in the following areas: (a) a more precise formulation of the definitions referred to in Article 2 in order to take account of developments in financial markets in the application of this Directive; (b) a more precise formulation of the definitions referred to in Article 2 in order to ensure consistent harmonisation and uniform application of this Directive in the Community; (c) the alignment of terminology and the framing of definitions in the Directive in accordance with subsequent Community acts on regulated entities and related matters; (d) a more precise definition of the calculation methods set out in Annex I in order to take account of developments on financial markets and prudential techniques; (e) coordination of the provisions adopted pursuant to Articles 7 and 8 and Annex II with a view to encouraging consistent harmonisation and uniform application within the Community. The draft delegated acts shall be drawn up by the Joint Committee of the European Supervisory Authorities."
Amendment 41 #
Proposal for a directive – amending act
Article 2 – point 4 a (new)
Article 2 – point 4 a (new)
Directive 2002/87/EC
Article 21 – paragraph 2
Article 21 – paragraph 2
(4a) Article 21(2) is replaced by the following: "2. The power to adopt delegated acts as referred to in Article 20(1) shall be conferred on the Commission for an indeterminate period of time."
Amendment 42 #
Proposal for a directive – amending act
Article 2 – point 4 b (new)
Article 2 – point 4 b (new)
Directive 2002/87/EC
Article 21 – paragraph 2 a (new)
Article 21 – paragraph 2 a (new)
(4b) In Article 21, the following paragraph is inserted after paragraph 2: "2a. As soon as it adopts a delegated act, the Commission shall notify it simultaneously to the European Parliament and to the Council."
Amendment 43 #
Proposal for a directive – amending act
Article 2 – point 4 c (new)
Article 2 – point 4 c (new)
Directive 2002/87/EC
Article 21 – paragraph 2 b (new)
Article 21 – paragraph 2 b (new)
(4c) In Article 21, the following paragraph is inserted after paragraph2a: "2b. The power to adopt delegated acts shall be conferred on the Commission subject to the conditions laid down in Article 21a and 21b."
Amendment 49 #
Proposal for a directive – amending act
Article 2 – point 5 a (new)
Article 2 – point 5 a (new)
Directive 2002/87/EC
Article 21 b (new)
Article 21 b (new)
Amendment 50 #
Proposal for a directive – amending act
Article 2 – point 5 b (new)
Article 2 – point 5 b (new)
Directive 2002/87/EC
Article 21 c (new)
Article 21 c (new)
(5b) The following article is inserted after Article 21b: "Article 21c Objections to delegated acts 1. The European Parliament or the Council may object to a delegated act within a period of four months from the date of notification. At the initiative of the European Parliament or the Council this period shall be extended by two months. 2. If, on the expiry of that period neither the European Parliament nor the Council has objected to the delegated act, it shall enter into force on the date stated therein. If the European Parliament or the Council objects to a delegated act, it shall not enter into force."
Amendment 51 #
Proposal for a directive – amending act
Article 3 – point -1 (new)
Article 3 – point -1 (new)
Directive 2003/6/EC
Article 1 – point 5
Article 1 – point 5
(-1) In Article 1, point 5 is replaced by the following: "5. ‘Accepted market practices’ shall mean practices that are reasonably expected in one or more financial markets and are accepted by the competent authority in accordance with standards adopted by the Commission in accordance with the delegated acts procedure [...] laid down in Articles 17, 17a and 17b."
Amendment 52 #
Proposal for a directive – amending act
Article 3 – point -1 a (new)
Article 3 – point -1 a (new)
Directive 2003/6/EC
Article 1 – paragraph 2
Article 1 – paragraph 2
(-1a) In Article 1, the second paragraph, is replaced by the following: "In order to take account of developments on financial markets and to ensure consistent harmonisation and uniform application of this Directive in the Community, the Commission shall lay down, by means of delegated acts, measures concerning points 1, 2 and 3 of this Article. Those measures [...] shall be adopted in accordance with the delegated acts procedure [...] referred to in Articles 17, 17a and 17b. The draft delegated acts shall be drawn up by the European Securities and Markets Authority."
Amendment 53 #
Proposal for a directive – amending act
Article 3 – point -1 b (new)
Article 3 – point -1 b (new)
Directive 2003/6/EC
Article 6 – paragraph 10 – subparagraph 2
Article 6 – paragraph 10 – subparagraph 2
(-1b) In Article 6(10), the second subparagraph is replaced by the following: "Those measures [...] shall be adopted in accordance with the delegated acts procedure [...] referred to in Articles 17, 17a and 17b." The draft delegated acts shall be drawn up by the European Securities and Markets Authority."
Amendment 54 #
Proposal for a directive – amending act
Article 3 – point -1 c (new)
Article 3 – point -1 c (new)
Directive 2003/6/EC
Article 8
Article 8
(-1c) Article 8 is replaced by the following: "The prohibitions provided for in this Directive shall not apply to trading in own shares in ‘buy-back’ programmes or to the stabilisation of a financial instrument provided such trading is carried out in accordance with delegated acts. Those measures [...] shall be adopted in accordance with the delegated acts procedure [...] referred to in Articles 17, 17a and 17b. The draft delegated acts shall be drawn up by the European Securities and Markets Authority."
Amendment 55 #
Proposal for a directive – amending act
Article 3 – point -1 d (new)
Article 3 – point -1 d (new)
Directive 2003/6/EC
Article 14 – paragraph 2
Article 14 – paragraph 2
(-1d) Article 14(2) is replaced by the following: "2. In accordance with the procedure laid down in Articles 17, 17a and 17b, the Commission shall, for information, draw up a list of the administrative measures and sanctions referred to in paragraph 1. The European Securities and Markets Authority shall produce guidelines to enable the Commission to draw up that list. The draft delegated acts shall be drawn up by the European Securities and Markets Authority."
Amendment 60 #
Proposal for a directive – amending act
Article 3 – point 3 a (new)
Article 3 – point 3 a (new)
Directive 2003/6/EC
Article 17 – paragraph 2 a
Article 17 – paragraph 2 a
(3a) Article 17(2a) is replaced by the following: "2a. The power to adopt delegated acts referred to in Article 1, Article 6(10), Article 8, Article 14(2) and Article 16(5) shall be conferred on the Commission for an indeterminate period of time."
Amendment 61 #
Proposal for a directive – amending act
Article 3 – point 3 b (new)
Article 3 – point 3 b (new)
Directive 2003/6/EC
Article 17 – paragraph 2a a (new)
Article 17 – paragraph 2a a (new)
(3b) In Article 17, the following paragraph is inserted after paragraph 2a: "2aa. As soon as it adopts a delegated act, the Commission shall notify it simultaneously to the European Parliament and to the Council."
Amendment 62 #
Proposal for a directive – amending act
Article 3 – point 3 c (new)
Article 3 – point 3 c (new)
Directive 2003/6/EC
Article 17 – paragraph 2 ab (new)
Article 17 – paragraph 2 ab (new)
(3c) In Article 17, the following paragraph is inserted after paragraph 2aa: "2ab. The power to adopt delegated acts shall be conferred on the Commission subject to the conditions laid down in Articles 17a and 17b."
Amendment 63 #
Proposal for a directive – amending act
Article 3 – point 3 d (new)
Article 3 – point 3 d (new)
Directive 2003/6/EC
Article 17 – paragraph 3
Article 17 – paragraph 3
(3d) Article 17(3) is deleted.
Amendment 64 #
Proposal for a directive – amending act
Article 3 – point 3 e (new)
Article 3 – point 3 e (new)
Directive 2003/6/EC
Article 17 a (new)
Article 17 a (new)
Amendment 65 #
Proposal for a directive – amending act
Article 3 – point 3 f (new)
Article 3 – point 3 f (new)
Directive 2003/6/EC
Article 17 b (new)
Article 17 b (new)
Amendment 74 #
Proposal for a directive – amending act
Article 5 – point -1 (new)
Article 5 – point -1 (new)
Directive 2003/71/EC
Article 1 – paragraph 3 a (new)
Article 1 – paragraph 3 a (new)
(-1) In Article 1, the following paragraph is added: "3a. In order to take account of technical developments on financial markets and to ensure coherent harmonisation and uniform application of this Directive, the Commission shall lay down, by means of delegated acts in accordance with Articles 24, 24a and 24b, measures concerning the adjustment of the limits referred to in points (h) and (j) of Article 1(2). The draft delegated acts shall be drawn up by the European Securities and Markets Authority."
Amendment 75 #
Proposal for a directive – amending act
Article 5 – point -1 a (new)
Article 5 – point -1 a (new)
Directive 2003/71/EC
Article 2 – paragraph 4
Article 2 – paragraph 4
(-1a) Article 2(4) is replaced by the following: "4. In order to take account of technical developments on financial markets and to ensure consistent harmonisation and uniform application of this Directive, the Commission shall lay down, by means of delegated acts in accordance with Articles 24, 24a and 24b, the definitions referred to in paragraph 1, including adjustment of the figures used for the definition of SMEs, taking into account Community legislation and recommendations as well as economic developments [...]. The draft delegated acts shall be drawn up by the European Securities and Markets Authority."
Amendment 76 #
Proposal for a directive – amending act
Article 5 – point -1 b (new)
Article 5 – point -1 b (new)
Directive 2003/71/EC
Article 4 – paragraph 3
Article 4 – paragraph 3
Amendment 77 #
Proposal for a directive – amending act
Article 5 – point -1 c (new)
Article 5 – point -1 c (new)
Directive 2003/71/EC
Article 5 – paragraph 5
Article 5 – paragraph 5
(-1c) Article 5(5) is replaced by the following: "5. In order to take account of technical developments on financial markets and to ensure consistent harmonisation and uniform application of this Directive, the Commission shall lay down, by means of delegated acts in accordance with Articles 24, 24a and 24b, measures concerning the format of the prospectus or base prospectus and supplements. [...] The draft delegated acts shall be drawn up by the European Securities and Markets Authority."
Amendment 78 #
Proposal for a directive – amending act
Article 5 – point -1 d (new)
Article 5 – point -1 d (new)
Directive 2003/71/EC
Article 5 – paragraph 5 a (new)
Article 5 – paragraph 5 a (new)
(-1d) In Article 5, the following paragraph is added: "5a. In order to achieve the objectives of this Directive, the Commission shall also lay down, by means of delegated acts in accordance with the Articles 24, 24a and 24b, measures to establish: (a) the detailed content and specific form of the key information document referred to in paragraphs 2 and 3; (b) the detailed content and specific form of the key information document with regard to: (i) structured securities and base prospectuses, (ii) shares, and (iii) bonds. Those delegated acts shall be adopted by ...*. The draft delegated acts shall be drawn up by the European Securities and Markets Authority. ____________ * OJ please insert date: 18 months after entry into force of this Directive."
Amendment 79 #
Proposal for a directive – amending act
Article 5 – point -1 e (new)
Article 5 – point -1 e (new)
Directive 2003/71/EC
Article 7 – paragraph 1
Article 7 – paragraph 1
(-1e) Article 7(1) is replaced by the following: "1. Detailed delegated acts regarding the specific information which must be included in a prospectus, avoiding duplication of information when a prospectus is composed of separate documents, shall be adopted by the Commission in accordance with Articles 24, 24a and 24b. [...] The draft delegated acts shall be drawn up by the European Securities and Markets Authority."
Amendment 80 #
Proposal for a directive – amending act
Article 5 – point -1 f (new)
Article 5 – point -1 f (new)
Directive 2003/71/EC
Article 7 – paragraph 3
Article 7 – paragraph 3
Amendment 81 #
Proposal for a directive – amending act
Article 5 – point -1 g (new)
Article 5 – point -1 g (new)
Directive 2003/71/EC
Article 8 – paragraph 4
Article 8 – paragraph 4
(-1g) Article 8(4) is replaced by the following: "4. In order to take account of technical developments on financial markets and to ensure consistent harmonisation and uniform application of this Directive, the Commission shall lay down, by means of delegated acts in accordance with Articles 24, 24a and 24b, measures concerning paragraph 2. [...] The draft delegated acts shall be drawn up by the European Securities and Markets Authority."
Amendment 82 #
Proposal for a directive – amending act
Article 5 – point 1
Article 5 – point 1
Directive 2003/71/EC
Article 8 – paragraph 5 – subparagraph 1 and 2
Article 8 – paragraph 5 – subparagraph 1 and 2
5. In order to ensure uniform application of paragraph 2 and to take account of technical developments on financial markets, the European Securities and Markets Authority established by Regulation…/…of the European Parliament and of the Council shall develop draft technical standards to determine the conditions of application of the implementing measuredelegated acts adopted by the Commission according to paragraph 4. The Authority shall submit those draft technical standards to the Commission by 1 January 2014. The Commission may adopt the draft technical standards referred to in the first subparagraph in accordance with the procedure laid down infor implementing acts pursuant to Article 7291 of Regulation .../.... [ESMA].the Treaty on the Functioning of the European Union."
Amendment 85 #
Proposal for a directive – amending act
Article 5 – point 1 a (new)
Article 5 – point 1 a (new)
Directive 2003/71/EC
Article 11 – paragraph 3
Article 11 – paragraph 3
(-1a) Article 11(3) is replaced by the following: "3. In order to take account of technical developments on financial markets and to ensure consistent harmonisation and uniform application of this Directive, the Commission shall lay down, by means of delegated acts in accordance with Articles 24, 24a and 24b, measures concerning the information to be incorporated by reference. [...] The draft delegated acts shall be drawn up by the European Securities and Markets Authority."
Amendment 86 #
Proposal for a directive – amending act
Article 5 – point 2 b a (new)
Article 5 – point 2 b a (new)
Directive 2003/71/EC
Article 13 – paragraph 7
Article 13 – paragraph 7
Amendment 87 #
Proposal for a directive – amending act
Article 5 – point 3 a (new)
Article 5 – point 3 a (new)
Directive 2003/71/EC
Article 14 – paragraph 8
Article 14 – paragraph 8
(3a) Article 14(8) is replaced by the following: "8. In order to take account of technical developments on financial markets and to ensure consistent harmonisation and uniform application of this Directive, the Commission shall lay down, by means of delegated acts in accordance with Articles 24, 24a and 24b, measures concerning paragraphs 1, 2, 3 and 4. [...] The draft delegated acts shall be drawn up by the European Securities and Markets Authority."
Amendment 88 #
Proposal for a directive – amending act
Article 5 – point 3 b (new)
Article 5 – point 3 b (new)
Directive 2003/71/EC
Article 15 – paragraph 7
Article 15 – paragraph 7
(3b) Article 15(7) is replaced by the following: "7. In order to take account of technical developments on financial markets and to ensure consistent harmonisation and uniform application of this Directive, the Commission shall lay down, by means of delegated acts in accordance with Articles 24, 24a and 24b, measures concerning the dissemination of advertisements announcing the intention to offer securities to the public or the admission to trading on a regulated market, in particular before the prospectus has been made available to the public or before the opening of the subscription, and concerning paragraph 4. [...] The draft delegated acts shall be drawn up by the European Securities and Markets Authority."
Amendment 97 #
Proposal for a directive – amending act
Article 5 – point 6 a (new)
Article 5 – point 6 a (new)
Directive 2003/71/EC
Article 20 – paragraph 3
Article 20 – paragraph 3
Amendment 102 #
Proposal for a directive – amending act
Article 5 – point 8 a (new)
Article 5 – point 8 a (new)
Directive 2003/71/EC
Chapter VII – title
Chapter VII – title
(8a) The title of Chapter VII is replaced by the following: "DELEGATED POWERS AND IMPLEMENTING MEASURES"
Amendment 103 #
Proposal for a directive – amending act
Article 5 – point 8 b (new)
Article 5 – point 8 b (new)
Directive 2003/71/EC
Article 24 – title
Article 24 – title
Amendment 104 #
Proposal for a directive – amending act
Article 5 – point 8 c (new)
Article 5 – point 8 c (new)
Directive 2003/71/EC
Article 24 – paragraph 2 a
Article 24 – paragraph 2 a
(8c) Article 24(2a) is replaced by the following: "2a. The power to adopt the delegated acts referred to in Article 1(3a), Article Article 2(4), Article 4(3), Article 5(5), Article 5(5a), Article 7(1), Article 7(3), Article 8(4), Article 11(3), Article 13(7), Article 14(8), Article 15(7) and Article 20(3) shall be conferred on the Commission for an indeterminate period of time."
Amendment 105 #
Proposal for a directive – amending act
Article 5 – point 8 d (new)
Article 5 – point 8 d (new)
Directive 2003/71/EC
Article 24 – paragraph 2a a (new)
Article 24 – paragraph 2a a (new)
(8d) In Article 24, the following paragraph is inserted after paragraph 2a: "2aa. As soon as it adopts a delegated act, the Commission shall notify it simultaneously to the European Parliament and to the Council."
Amendment 106 #
Proposal for a directive – amending act
Article 5 – point 8 e (new)
Article 5 – point 8 e (new)
Directive 2003/71/EC
Article 24 – paragraph 2a b (new)
Article 24 – paragraph 2a b (new)
(8e) In Article 24, the following paragraph is inserted after paragraph 2aa: "2ab. The power to adopt delegated acts shall be conferred on the Commission subject to the conditions laid down in Articles 24a and 24b."
Amendment 107 #
Proposal for a directive – amending act
Article 5 – point 8 f (new)
Article 5 – point 8 f (new)
Directive 2003/71/EC
Article 24 – paragraph 3
Article 24 – paragraph 3
(8f) Article 24(3) is deleted.
Amendment 108 #
Proposal for a directive – amending act
Article 5 – point 8 g (new)
Article 5 – point 8 g (new)
Directive 2003/71/EC
Article 24 a (new)
Article 24 a (new)
Amendment 109 #
Proposal for a directive – amending act
Article 5 – point 8 h (new)
Article 5 – point 8 h (new)
Directive 2003/71/EC
Article 24 b (new)
Article 24 b (new)
(8h) The following article is inserted after Article 24a: "Article 24b Objections to delegated acts 1. The European Parliament or the Council may object to a delegated act within a period of four months from the date of notification. At the initiative of the European Parliament or the Council this period shall be extended by two months. 2. If, on the expiry of that period, neither the European Parliament nor the Council has objected to the delegated act, it shall enter into force on the date stated therein. If the European Parliament or the Council objects to a delegated act, it shall not enter into force."
Amendment 110 #
Proposal for a directive – amending act
Article 6 – point -1 (new)
Article 6 – point -1 (new)
Directive 2004/39/EC
Article 2 – paragraph 3
Article 2 – paragraph 3
(-1)Article 2(3) is replaced by the following: "3. In order to take account of technical developments on financial markets and to ensure consistent harmonisation and uniform application of this Directive, the Commission shall, by means of delegated acts in accordance with Articles 64, 64a and 64b, in respect of exemptions (c) (i), and (k) define the criteria for determining when an activity is to be considered as ancillary to the main business on a group level as well as for determining when an activity is provided in an incidental manner. [...] The draft delegated acts shall be drawn up by the European Securities and Markets Authority."
Amendment 111 #
Proposal for a directive – amending act
Article 6 – point -1 b (new)
Article 6 – point -1 b (new)
Directive 2004/39/EC
Article 4 – paragraph 2
Article 4 – paragraph 2
(-1b) Article 4(2) is replaced by the following: "2. In order to take account of developments on financial markets, and to ensure consistent harmonisation and the uniform application of this Directive, the Commission shall, by means of delegated acts in accordance with Articles 64, 64a and 64b, clarify the definitions laid down in paragraph 1 of this Article. The draft delegated acts shall be drawn up by the European Securities and Markets Authority."
Amendment 120 #
Proposal for a directive – amending act
Article 6 – point 3 a (new)
Article 6 – point 3 a (new)
Directive 2004/39/EC
Article 10b – paragraph 1 – subparagraph 2
Article 10b – paragraph 1 – subparagraph 2
(3a) In Article 10b(1), the second subparagraph is replaced by the following: "In order to take account of [...] developments on financial markets and to ensure consistent harmonisation and uniform application of this Directive, the Commission shall, by means of delegated acts in accordance with Articles 64, 64a and 64b, adopt [...] measures which adjust the criteria set out in the first subparagraph of this paragraph. The draft delegated acts shall be drawn up by the European Securities and Markets Authority."
Amendment 121 #
Proposal for a directive – amending act
Article 6 – point 3 b (new)
Article 6 – point 3 b (new)
Directive 2004/39/EC
Article 13 – paragraph 10
Article 13 – paragraph 10
(3b) Article 13(10) is replaced by the following: "10. In order to take account of developments on financial markets, and to ensure consistent harmonisation and the uniform application of this Directive, the Commission shall, by means of delegated acts in accordance with Articles 64, 64a and 64b, adopt [...] measures which specify the concrete organisational requirements to be imposed on investment firms performing different investment services and/or activities and ancillary services or combinations thereof. [...] The draft delegated acts shall be drawn up by the European Securities and Markets Authority."
Amendment 122 #
Proposal for a directive – amending act
Article 6 – point 3 c (new)
Article 6 – point 3 c (new)
Directive 2004/39/EC
Article 15 – paragraph 3 – subparagraph 2
Article 15 – paragraph 3 – subparagraph 2
(3c) In Article 15(3), the second subparagraph is replaced by the following: "In the circumstances referred to in the first subparagraph, the Commission may decide, by means of delegated acts in accordance with Articles 64, 64a and 64b, at any time and in addition to the initiation of negotiations, that the competent authorities of the Member States must limit or suspend their decisions regarding requests pending or future requests for authorisation and the acquisition of holdings by direct or indirect parent undertakings governed by the law of the third country in question. Such limitations or suspensions may not be applied to the setting-up of subsidiaries by investment firms duly authorised in the Community or by their subsidiaries, or to the acquisition of holdings in Community investment firms by such firms or subsidiaries. The duration of such measures may not exceed three months."
Amendment 123 #
Proposal for a directive – amending act
Article 6 – point 3 d (new)
Article 6 – point 3 d (new)
Directive 2004/39/EC
Article 15 – paragraph 3 – subparagraph 3
Article 15 – paragraph 3 – subparagraph 3
(3d) In Article 15(3), the third subparagraph is replaced by the following: "Before the end of the three-month period referred to in the second subparagraph and in the light of the results of the negotiations, the Commission may decide, by means of delegated acts in accordance with Articles 64, 64a and 64b, to extend these measures."
Amendment 124 #
Proposal for a directive – amending act
Article 6 – point 3 e (new)
Article 6 – point 3 e (new)
Directive 2004/39/EC
Article 18 – paragraph 3 – subparagraph 1 – introductory part
Article 18 – paragraph 3 – subparagraph 1 – introductory part
(3r) In Article 18(3), the introductory part of the first subparagraph is replaced by the following: "3. In order to take account of developments on financial markets, and to ensure consistent harmonisation and the uniform application of paragraphs 1 and 2, the Commission shall, by means of delegated acts in accordance with Articles 64, 64a and 64b adopt [...] measures which:"
Amendment 125 #
Proposal for a directive – amending act
Article 6 – point 3 f (new)
Article 6 – point 3 f (new)
Directive 2004/39/EC
Article 18 – paragraph 3 – subparagraph 2
Article 18 – paragraph 3 – subparagraph 2
(3f) In Article 18(3), the second subparagraph is replaced by the following: "The draft delegated acts shall be drawn up by the European Securities and Markets Authority."
Amendment 126 #
Proposal for a directive – amending act
Article 6 – point 3 g (new)
Article 6 – point 3 g (new)
Directive 2004/39/EC
Article 19 – paragraph 10 –subparagraph 1 – introductory part
Article 19 – paragraph 10 –subparagraph 1 – introductory part
(3g) In Article 19(10), the introductory part of the first subparagraph is replaced by the following: "10. In order to ensure the necessary protection of investors and consistent harmonisation and the uniform application of paragraphs 1 to 8, the Commission shall, by means of delegated acts in accordance with Articles 64, 64a and 64b, ensure that investment firms comply with the principles set out therein when providing investment or ancillary services to their clients. Those implementing measures shall take into account:"
Amendment 127 #
Proposal for a directive – amending act
Article 6 – point 3 h (new)
Article 6 – point 3 h (new)
Directive 2004/39/EC
Article 19 – paragraph 10 –subparagraph 2
Article 19 – paragraph 10 –subparagraph 2
(3h) In Article 19(10), the second subparagraph is replaced by the following: "The draft delegated acts shall be drawn up by the European Securities and Markets Authority."
Amendment 128 #
Proposal for a directive – amending act
Article 6 – point 3 i (new)
Article 6 – point 3 i (new)
Directive 2004/39/EC
Article 21 – paragraph 6 –subparagraph 1 – introductory part
Article 21 – paragraph 6 –subparagraph 1 – introductory part
(3i) In Article 21(6), the introductory part of the first subparagraph is replaced by the following: "6. In order to ensure the protection necessary for investors, the fair and orderly functioning of markets, and to ensure consistent harmonisation and the uniform application of paragraphs 1, 3 and 4, the Commission shall, by means of delegated acts in accordance with Articles 64, 64a and 64b, adopt measures concerning:"
Amendment 129 #
Proposal for a directive – amending act
Article 6 – point 3 j (new)
Article 6 – point 3 j (new)
Directive 2004/39/EC
Article 21 – paragraph 6 –subparagraph 2
Article 21 – paragraph 6 –subparagraph 2
(3j) In Article 21(6), the second subparagraph is replaced by the following: "The draft delegated acts shall be drawn up by the European Securities and Markets Authority."
Amendment 130 #
Proposal for a directive – amending act
Article 6 – point 3 k (new)
Article 6 – point 3 k (new)
Directive 2004/39/EC
Article 22 – paragraph 3 –subparagraph 1 – introductory part
Article 22 – paragraph 3 –subparagraph 1 – introductory part
(3k) In Article 22(3), the introductory part of the first subparagraph is replaced by the following: "3. In order to ensure that measures for the protection of investors and fair and orderly functioning of markets take account of technical developments in financial markets, and to ensure consistent harmonisation and the uniform application of paragraphs 1 and 2, the Commission shall, by means of delegated acts in accordance with Articles 64, 64a and 64b, define:"
Amendment 131 #
Proposal for a directive – amending act
Article 6 – point 3 l (new)
Article 6 – point 3 l (new)
Directive 2004/39/EC
Article 22 – paragraph 3 –subparagraph 2
Article 22 – paragraph 3 –subparagraph 2
Amendment 132 #
Proposal for a directive – amending act
Article 6 – point 3 m (new)
Article 6 – point 3 m (new)
Directive 2004/39/EC
Article 24 – paragraph 5 –subparagraph 1 – introductory part
Article 24 – paragraph 5 –subparagraph 1 – introductory part
(3m) In Article 24(5), the introductory part of the first subparagraph is replaced by the following: "5. In order to ensure consistent harmonisation and the uniform application of paragraphs 2, 3 and 4 in the light of changing market practice and to facilitate the effective operation of the single market, the Commission shall, by means of delegated acts in accordance with Articles 64, 64a and 64b, define:"
Amendment 133 #
Proposal for a directive – amending act
Article 6 – point 3 n (new)
Article 6 – point 3 n (new)
Directive 2004/39/EC
Article 24 – paragraph 5 –subparagraph 2
Article 24 – paragraph 5 –subparagraph 2
(3n) In Article 24(5), the second subparagraph is replaced by the following: "The draft delegated acts shall be drawn up by the European Securities and Markets Authority."
Amendment 134 #
Proposal for a directive – amending act
Article 6 – point 3 o (new)
Article 6 – point 3 o (new)
Directive 2004/39/EC
Article 25 – paragraph 7
Article 25 – paragraph 7
(3o) Article 25(7) is replaced by the following: "7. In order to ensure that measures for the protection of market integrity are modified to take account of technical developments in financial markets, and to ensure consistent harmonisation and the uniform application of paragraphs 1 to 5, the Commission shall, by means of delegated acts in accordance with Articles 64, 64a and 64b, define the methods and arrangements for reporting financial transactions, the form and content of these reports and the criteria for defining a relevant market in accordance with paragraph 3. The draft delegated acts shall be drawn up by the European Securities and Markets Authority."
Amendment 135 #
Proposal for a directive – amending act
Article 6 – point 3 p (new)
Article 6 – point 3 p (new)
Directive 2004/39/EC
Article 27 – paragraph 7 –subparagraph 1 – introductory part
Article 27 – paragraph 7 –subparagraph 1 – introductory part
(3p) In Article 27(7), the introductory part of the first subparagraph is replaced by the following: "7. In order to ensure consistent harmonisation and the uniform application of paragraphs 1 to 6, in a manner which supports the efficient valuation of shares and maximises the possibility of investment firms of obtaining the best deal for their clients, the Commission shall, by means of delegated acts in accordance with Articles 64, 64a and 64b adopt [...] measures which:"
Amendment 136 #
Proposal for a directive – amending act
Article 6 – point 3 q (new)
Article 6 – point 3 q (new)
Directive 2004/39/EC
Article 27 – paragraph 7 –subparagraph 2
Article 27 – paragraph 7 –subparagraph 2
(3q) In Article 27(7), the second subparagraph is replaced by the following: "The draft delegated acts shall be drawn up by the European Securities and Markets Authority."
Amendment 137 #
Proposal for a directive – amending act
Article 6 – point 3 r (new)
Article 6 – point 3 r (new)
Directive 2004/39/EC
Article 28 – paragraph 3 –subparagraph 1 – introductory part
Article 28 – paragraph 3 –subparagraph 1 – introductory part
(3r) In Article 28(3), the introductory part of the first subparagraph is replaced by the following: "3. In order to ensure the transparent and orderly functioning of markets and consistent harmonisation and the uniform application of paragraph 1, the Commission shall, by means of delegated acts in accordance with Articles 64, 64a and 64b adopt [...] measures which:"
Amendment 138 #
Proposal for a directive – amending act
Article 6 – point 3 s (new)
Article 6 – point 3 s (new)
Directive 2004/39/EC
Article 28 – paragraph 3 –subparagraph 2
Article 28 – paragraph 3 –subparagraph 2
(3s) In Article 28(3), the second subparagraph is replaced by the following: "The draft delegated acts shall be drawn up by the European Securities and Markets Authority."
Amendment 139 #
Proposal for a directive – amending act
Article 6 – point 3 t (new)
Article 6 – point 3 t (new)
Directive 2004/39/EC
Article 29 – paragraph 3 –subparagraph 1 – introductory part
Article 29 – paragraph 3 –subparagraph 1 – introductory part
(3t) In Article 29(3), the introductory part of the first subparagraph is replaced by the following: "3. In order to ensure consistent harmonisation and the uniform application of paragraphs 1 and 2, the Commission shall, by means of delegated acts in accordance with Articles 64, 64a and 64b, adopt [...] measures as regards:"
Amendment 140 #
Proposal for a directive – amending act
Article 6 – point 3 u (new)
Article 6 – point 3 u (new)
Directive 2004/39/EC
Article 29 – paragraph 3 –subparagraph 3
Article 29 – paragraph 3 –subparagraph 3
(3u) In Article 29(3), the third subparagraph is replaced by the following: "The draft delegated acts shall be drawn up by the European Securities and Markets Authority."
Amendment 141 #
Proposal for a directive – amending act
Article 6 – point 3 v(new)
Article 6 – point 3 v(new)
Directive 2004/39/EC
Article 30 – paragraph 3 – subparagraph 1 – introductory part
Article 30 – paragraph 3 – subparagraph 1 – introductory part
(3v) In Article 30(3), the introductory part of the first subparagraph is replaced by the following: "3. In order to ensure consistent harmonisation and the uniform application of paragraphs 1 and 2, the Commission shall, by means of delegated acts in accordance with Articles 64, 64a and 64b, adopt [...] measures as regards:"
Amendment 142 #
Proposal for a directive – amending act
Article 6 – point 3 x (new)
Article 6 – point 3 x (new)
Directive 2004/39/EC
Article 30 – paragraph 3 – subparagraph 3
Article 30 – paragraph 3 – subparagraph 3
(3x) In Article 30(3), the third subparagraph is replaced by the following: "The draft delegated acts shall be drawn up by the European Securities and Markets Authority."
Amendment 151 #
Proposal for a directive – amending act
Article 6 – point 5 a (new)
Article 6 – point 5 a (new)
Directive 2004/39/EC
Article 40 – paragraph 6 –subparagraph 1 – introductory part
Article 40 – paragraph 6 –subparagraph 1 – introductory part
(5a) In Article 40(6), the introductory part of the first subparagraph is replaced by the following: "6. In order to ensure consistent harmonisation and the uniform application of paragraphs 1 to 5, the Commission shall, by means of delegated acts in accordance with Articles 64, 64a and 64b:"
Amendment 152 #
Proposal for a directive – amending act
Article 6 – point 5 b (new)
Article 6 – point 5 b (new)
Directive 2004/39/EC
Article 40 – paragraph 6 –subparagraph 2
Article 40 – paragraph 6 –subparagraph 2
(5b) In Article 40(6), the second subparagraph is replaced by the following: "The draft delegated acts shall be drawn up by the European Securities and Markets Authority."
Amendment 153 #
Proposal for a directive – amending act
Article 6 – point 5 c (new)
Article 6 – point 5 c (new)
Directive 2004/39/EC
Article 44 – paragraph 3 –subparagraph 1 – introductory part
Article 44 – paragraph 3 –subparagraph 1 – introductory part
(5c) In Article 44(3), the introductory part of the first subparagraph is replaced by the following: "3. In order to ensure consistent harmonisation and the uniform application of paragraphs 1 and 2, the Commission shall, by means of delegated acts in accordance with Articles 64, 64a and 64b, adopt measures as regards:"
Amendment 154 #
Proposal for a directive – amending act
Article 6 – point 5 d (new)
Article 6 – point 5 d (new)
Directive 2004/39/EC
Article 44 – paragraph 3 –subparagraph 2
Article 44 – paragraph 3 –subparagraph 2
(5d) In Article 44(3), the second subparagraph is replaced by the following: "The draft delegated acts shall be drawn up by the European Securities and Markets Authority."
Amendment 155 #
Proposal for a directive – amending act
Article 6 – point 5 e (new)
Article 6 – point 5 e (new)
Directive 2004/39/EC
Article 45 – paragraph 3 – subparagraph 1 – introductory part
Article 45 – paragraph 3 – subparagraph 1 – introductory part
(5e) In Article 45(3), the introductory part of the first subparagraph is replaced by the following: "3. In order to provide for the efficient and orderly functioning of financial markets, and to ensure consistent harmonisation and the uniform application of paragraphs 1 and 2, the Commission shall, by means of delegated acts in accordance with Articles 64, 64a and 64b, adopt measures in respect of:"
Amendment 156 #
Proposal for a directive – amending act
Article 6 – point 5 f (new)
Article 6 – point 5 f (new)
Directive 2004/39/EC
Article 45 – paragraph 3 –subparagraph 2
Article 45 – paragraph 3 –subparagraph 2
(5f) In Article 45(3), the second subparagraph is replaced by the following: "The draft delegated acts shall be drawn up by the European Securities and Markets Authority."
Amendment 157 #
Proposal for a directive – amending act
Article 6 – point 8 a (new)
Article 6 – point 8 a (new)
Directive 2004/39/EC
Article 56 – paragraph 5
Article 56 – paragraph 5
(8a) Article 56(5) is replaced by the following: "5. In order to ensure consistent harmonisation and the uniform application of paragraphs 1 and 2 the Commission shall, by means of delegated acts in accordance with Articles 64, 64a and 64b, define standards for the obligations for the competent authorities to cooperate and establish the criteria under which the operations of a regulated market in a host Member State could be considered as of substantial importance for the functioning of the securities markets and the protection of the investors in that host Member State."
Amendment 158 #
Proposal for a directive – amending act
Article 6 – point 8 b (new)
Article 6 – point 8 b (new)
Directive 2004/39/EC
Article 56 – paragraph 5 – subparagraph 1 a (new)
Article 56 – paragraph 5 – subparagraph 1 a (new)
(8b) In Article 56(5), the following subparagraph is added: "The draft delegated acts shall be drawn up by the European Securities and Markets Authority."
Amendment 160 #
Proposal for a directive – amending act
Article 6 – point 9
Article 6 – point 9
Directive 2004/39/EC
Article 56 – paragraph 6 – subparagraph 1
Article 56 – paragraph 6 – subparagraph 1
"6. In order to ensure uniform application of paragraphs 1 and 2, the European Securities and Markets Authority mayshall develop draft technical standards to determine the conditions of application relating to the obligation for competent authorities to cooperate according to paragraph 1 and to the content of the cooperation agreements according to paragraph 2, including the development of standard forms and templates.
Amendment 164 #
Proposal for a directive – amending act
Article 6 – point 9
Article 6 – point 9
Directive 2004/39/EC
Article 56 – paragraph 6 – subparagraph 2
Article 56 – paragraph 6 – subparagraph 2
The Commission may adopt the draft technical standards referred to in the first subparagraph in accordance with the procedure laid down infor implementing acts pursuant to Article 7291 of Regulation .../.... [ESMA]the Treaty on the Functioning of the European Union."
Amendment 177 #
Proposal for a directive – amending act
Article 6 – point 14 a (new) – introductory part and point a (new)
Article 6 – point 14 a (new) – introductory part and point a (new)
Directive 2004/39/EC
Article 64 – paragraph 2
Article 64 – paragraph 2
(14a) Article 64 is amended as follows: (a) Paragraph 2 is replaced by the following: "2. The power to adopt the delegated acts referred to in Articles 2, 4, 10b(1), 13(10), 15, 18, 19, 21, 22, 24, 25, 27, 28, 29, 30, 40, 44, 45 and 56(2) shall be conferred on the Commission for an indeterminate period of time."
Amendment 178 #
Proposal for a directive – amending act
Article 6 – point 14 a (new) – point b (new)
Article 6 – point 14 a (new) – point b (new)
Directive 2004/39/EC
Article 64 – paragraphs 2 a and 2 b (new)
Article 64 – paragraphs 2 a and 2 b (new)
(b) The following paragraphs are inserted after paragraph 2: "2a. As soon as it adopts a delegated act, the Commission shall notify it simultaneously to the European Parliament and to the Council. 2b. The power to adopt delegated acts is conferred on the Commission subject to the conditions laid down in Articles 64a and 64b."
Amendment 179 #
Proposal for a directive – amending act
Article 6 – point 14 a (new) – point c (new)
Article 6 – point 14 a (new) – point c (new)
Directive 2004/39/EC
Article 64 – paragraph 2a
Article 64 – paragraph 2a
(c) Paragraph 2a is replaced by the following: "2a. None of the delegated acts enacted may change the essential provisions of this Directive."
Amendment 180 #
Proposal for a directive – amending act
Article 6 – point 14 a (new) – point d (new)
Article 6 – point 14 a (new) – point d (new)
Directive 2004/39/EC
Article 64 – paragraph 4
Article 64 – paragraph 4
(d) Paragraph 4 is deleted.
Amendment 181 #
Proposal for a directive – amending act
Article 6 – point 14 b (new)
Article 6 – point 14 b (new)
Directive 2004/39/EC
Article 64 a (new)
Article 64 a (new)
(14b) The following Article is inserted: "Article 64a Revocation of the delegation 1. The delegation of powers referred to in Articles 2, 4, 10b(1), 13(10), 15, 18, 19, 21, 22, 24, 25, 27, 28, 29, 30, 40, 44, 45 and 56(2) may be revoked by the European Parliament or by the Council. 2. The institution which has commenced an internal procedure with a view to deciding whether to revoke the delegation of powers shall endeavour to inform the other institution and the Commission. 3. The revocation decision shall put an end to the delegation of the powers specified in that decision. It shall take effect immediately or at such later date as may be specified therein. It shall not affect the validity of the delegated acts already in force. It shall be published in the Official Journal of the European Union."
Amendment 182 #
Proposal for a directive – amending act
Article 6 – point 14 c (new)
Article 6 – point 14 c (new)
Directive 2004/39/EC
Article 64 b (new)
Article 64 b (new)
(14c) The following Article is inserted: "Article 64b Objections to delegated acts 1. The European Parliament or the Council may object to a delegated act within a period of four months from the date of notification. At the initiative of the European Parliament or the Council this period shall be extended by two months. 2. If, on the expiry of that period, neither the European Parliament nor the Council has objected to the delegated act, it shall enter into force at the date stated therein. If the European Parliament or the Council objects to a delegated act, it shall not enter into force."
Amendment 183 #
Proposal for a directive – amending act
Article 7 – point -1 (new)
Article 7 – point -1 (new)
Directive 2004/109/EC
Article 2 – paragraph 3 – subparagraph 1
Article 2 – paragraph 3 – subparagraph 1
(-1) In Article 2(3), the first subparagraph of Article 2(3) is replaced by the following: "3. In order to take account of technical developments on financial markets and to ensure consistent harmonisation and the uniform application of paragraph 1, the Commission shall, in accordance with the procedures referred to in Article 27(2) and (2a), adopt delegated acts and implementing measures concerning the definitions set out in paragraph 1."
Amendment 184 #
Proposal for a directive – amending act
Article 7 – point -1 a (new)
Article 7 – point -1 a (new)
Directive 2004/109/EC
Article 2 – paragraph 3 – subparagraph 3
Article 2 – paragraph 3 – subparagraph 3
(-1a) In Article 2(3), the third subparagraph is replaced by the following: "The measures referred to in points (a) and (b) of the second subparagraph shall be laid down by means of delegated acts in accordance with Articles 27, 27a and 27b."
Amendment 185 #
Proposal for a directive – amending act
Article 7 – point -1 b (new)
Article 7 – point -1 b (new)
Directive 2004/109/EC
Article 2 – paragraph 3 – subparagraph 3 a (new)
Article 2 – paragraph 3 – subparagraph 3 a (new)
(-1b) In Article 2(3), the following subparagraph is added: "The draft delegated acts shall be drawn up by the European Securities and Markets Authority."
Amendment 186 #
Proposal for a directive – amending act
Article 7 – point -1 c (new)
Article 7 – point -1 c (new)
Directive 2004/109/EC
Article 5 – paragraph 6 – subparagraph 1
Article 5 – paragraph 6 – subparagraph 1
(-1c) In Article 5(6), the first subparagraph is replaced by the following: "6. The Commission shall adopt delegated acts and implementing measures, in accordance with the procedures referred to in Article 27(2) and (2a), in order to take account of technical developments on financial markets and to ensure consistent harmonisation and the uniform application of paragraphs 1 to 5 of this Article."
Amendment 187 #
Proposal for a directive – amending act
Article 7 – point -1 d (new)
Article 7 – point -1 d (new)
Directive 2004/109/EC
Article 5 – paragraph 6 – subparagraph 3
Article 5 – paragraph 6 – subparagraph 3
(-1d) In Article 5(6), the third subparagraph is replaced by the following: "The measures referred to in point (a) shall be adopted in accordance with the regulatory procedure referred to in Article 27(2). The measures referred to in points (b) and (c) [...]] shall be laid down by means of delegated acts in accordance with Articles 27, 27a and 27b."
Amendment 188 #
Proposal for a directive – amending act
Article 7 – point -1 e (new)
Article 7 – point -1 e (new)
Directive 2004/109/EC
Article 5 – paragraph 6 – subparagraph 4
Article 5 – paragraph 6 – subparagraph 4
(-1e) In Article 5(6), the fourth subparagraph is replaced by the following: "Where appropriate, the Commission may also adapt the five-year period referred to in paragraph 1 by means of a delegated act in accordance with Articles 27, 27a and 27b."
Amendment 189 #
Proposal for a directive – amending act
Article 7 – point -1 f (new)
Article 7 – point -1 f (new)
Directive 2004/109/EC
Article 5 – paragraph 6 – subparagraph 4 a (new)
Article 5 – paragraph 6 – subparagraph 4 a (new)
(-1f) In Article 5(6), the following subparagraph is added: "The draft delegated acts shall be drawn up by the European Securities and Markets Authority."
Amendment 190 #
Proposal for a directive – amending act
Article 7 – point -1 g (new)
Article 7 – point -1 g (new)
Directive 2004/109/EC
Article 9 – paragraph 7 – subparagraph 1
Article 9 – paragraph 7 – subparagraph 1
(-1g) In Article 9(7), the first subparagraph is replaced by the following: "7. The Commission shall be empowered to lay down, by means of delegated acts in accordance with Articles 27, 27a and 27b, measures to take account of technical developments on financial markets and to ensure consistent harmonisation and the uniform application of paragraphs 2, 4 and 5."
Amendment 191 #
Proposal for a directive – amending act
Article 7 – point -1 h (new)
Article 7 – point -1 h (new)
Directive 2004/109/EC
Article 9 – paragraph 7 – subparagraph 2
Article 9 – paragraph 7 – subparagraph 2
(-1h) In Article 9(7), the second subparagraph is replaced by the following: "The Commission shall also specify the maximum length of the ‘short settlement cycle’ referred to in paragraph 4 of this Article, as well as the appropriate control mechanisms by the competent authority of the home Member State by means of delegated acts in accordance with Articles 27, 27a and 27b."
Amendment 192 #
Proposal for a directive – amending act
Article 7 – point -1 i (new)
Article 7 – point -1 i (new)
Directive 2004/109/EC
Article 9 – paragraph 7 – subparagraph 4 (new)
Article 9 – paragraph 7 – subparagraph 4 (new)
(-1i) In Article 9(7), the following subparagraph is added: "The draft delegated acts shall be drawn up by the European Securities and Markets Authority."
Amendment 193 #
Proposal for a directive – amending act
Article 7 – point 1 – point -a (new)
Article 7 – point 1 – point -a (new)
Directive 2004/109/EC
Article 12 – paragraph 8 – subparagraph 1 – introductory part
Article 12 – paragraph 8 – subparagraph 1 – introductory part
Amendment 194 #
Proposal for a directive – amending act
Article 7 – point 1 – point a a (new)
Article 7 – point 1 – point a a (new)
Directive 2004/109/EC
Article 12 – paragraph 8 – subparagraph 2 a (new)
Article 12 – paragraph 8 – subparagraph 2 a (new)
(aa) In paragraph 8, the following subparagraph is added: "The draft delegated acts shall be drawn up by the European Securities and Markets Authority."
Amendment 203 #
Proposal for a directive – amending act
Article 7 – point 2 – point -a (new)
Article 7 – point 2 – point -a (new)
Directive 2004/109/EC
Article 13 – paragraph 2 – subparagraph 1
Article 13 – paragraph 2 – subparagraph 1
(-a) In paragraph 2, the first subparagraph is replaced by the following: "2. The Commission shall lay down, by means of delegated acts in accordance with Articles 27, 27a and 27b, measures in order to take account of technical developments in financial markets and to ensure consistent harmonisation and the uniform application of paragraph 1. It shall in particular determine:"
Amendment 204 #
Proposal for a directive – amending act
Article 7 – point 2 – point -a a (new)
Article 7 – point 2 – point -a a (new)
Directive 2004/109/EC
Article 13 – paragraph 2 –subparagraph 2
Article 13 – paragraph 2 –subparagraph 2
(-aa) The second subparagraph of paragraph 2 is deleted.
Amendment 205 #
Proposal for a directive – amending act
Article 7 – point 2 a (new)
Article 7 – point 2 a (new)
Directive 2004/109/EC
Article 14 – paragraph 2
Article 14 – paragraph 2
(2a) Article 14(2) is replaced by the following: "2. The Commission shall lay down, by means of delegated acts in accordance with Articles 27, 27a and 27b, measures in order to take account of technical developments in financial markets and to ensure consistent harmonisation and the uniform application of paragraph 1. [...] The draft delegated acts shall be drawn up by the European Securities and Markets Authority."
Amendment 206 #
Proposal for a directive – amending act
Article 7 – point 2 a b (new)
Article 7 – point 2 a b (new)
Directive 2004/109/EC
Article 13 – paragraph 2 – subparagraph 2 a (new)
Article 13 – paragraph 2 – subparagraph 2 a (new)
(ab) In paragraph 2 the following subparagraph is added: "The draft delegated acts shall be drawn up by the European Securities and Markets Authority."
Amendment 207 #
Proposal for a directive – amending act
Article 7 – point 2 b (new)
Article 7 – point 2 b (new)
Directive 2004/109/EC
Article 17 – paragraph 4
Article 17 – paragraph 4
Amendment 208 #
Proposal for a directive – amending act
Article 7 – point 2 c (new)
Article 7 – point 2 c (new)
Directive 2004/109/EC
Article 18 – paragraph 5
Article 18 – paragraph 5
(2c) Article 18(5) is replaced by the following: "5. The Commission shall lay down, by means of delegated acts in accordance with Articles 27, 27a and 27b, measures in order to take account of technical developments in financial markets, to take account of developments in information and communication technology and to ensure consistent harmonisation and the uniform application of paragraph 1 to 4. It shall, in particular, specify the types of financial institution through which a debt security holder may exercise the financial rights provided for in paragraph 2(c). [...] The draft delegated acts shall be drawn up by the European Securities and Markets Authority."
Amendment 209 #
Proposal for a directive – amending act
Article 7 – point 2 d (new)
Article 7 – point 2 d (new)
Directive 2004/109/EC
Article 19 – paragraph 4
Article 19 – paragraph 4
(2d) Article 19(4) is replaced by the following: "4. The Commission shall lay down, by means of delegated acts in accordance with Articles 27, 27a and 27b, measures in order to ensure consistent harmonisation and the uniform application of paragraphs 1, 2 and 3 [...]. The Commission shall, in particular, specify the procedure in accordance with which an issuer, a holder of shares or other financial instruments, or a person or entity referred to in Article 10, is to file information with the competent authority of the home Member State under paragraphs 1 or 3, respectively, in order to: (a) enable filing by electronic means in the home Member State; (b) coordinate the filing of the annual financial report referred to in Article 4 of this Directive with the filing of the annual information referred to in Article 10 of Directive 2003/71/EC. [...] The draft delegated acts shall be drawn up by the European Securities and Markets Authority."
Amendment 210 #
Proposal for a directive – amending act
Article 7 – point 2 e (new)
Article 7 – point 2 e (new)
Directive 2004/109/EC
Article 21 – paragraph 4
Article 21 – paragraph 4
(2e) Article 21(4) is replaced by the following: "4. The Commission shall lay down, by means of delegated acts in accordance with Articles 27, 27a and 27b, measures in order to take account of technical developments in financial markets, to take account of developments in information and communication technology and to ensure the uniform application of paragraphs 1, 2 and 3 [...]. The Commission shall in particular specify: (a) minimum standards for the dissemination of regulated information, as referred to in paragraph 1; (b) minimum standards for the central storage mechanism as referred to in paragraph 2. The Commission may also specify and update a list of media for the dissemination of information to the public. [...] The draft delegated acts shall be drawn up by the European Securities and Markets Authority."
Amendment 211 #
Proposal for a directive – amending act
Article 7 – point 2 f (new)
Article 7 – point 2 f (new)
Directive 2004/109/EC
Article 22 – paragraph 2
Article 22 – paragraph 2
(2f) Article 22(2) is replaced by the following: "2. The Commission shall review regularly the results achieved and may, by means of delegated acts in accordance with Articles 27, 27a and 27b, adopt measures to facilitate compliance with Articles 19 and 21."
Amendment 212 #
Proposal for a directive – amending act
Article 7 – point 2 g (new)
Article 7 – point 2 g (new)
Directive 2004/109/EC
Article 23 – paragraph 4
Article 23 – paragraph 4
Amendment 213 #
Proposal for a directive – amending act
Article 7 – point 2 h (new)
Article 7 – point 2 h (new)
Directive 2004/109/EC
Article 23 – paragraph 5
Article 23 – paragraph 5
(2h) Article 23(5) is replaced by the following: "5. In order to ensure consistent harmonisation and the uniform application of paragraph 2, the Commission may lay down, by means of delegated acts in accordance with Articles 27, 27a and 27b, measures defining the type of information disclosed in a third country that is of importance to the public in the Community. [...] The draft delegated acts shall be drawn up by the European Securities and Markets Authority."
Amendment 214 #
Proposal for a directive – amending act
Article 7 – point 2 i (new)
Article 7 – point 2 i (new)
Directive 2004/109/EC
Article 23 – paragraph 7
Article 23 – paragraph 7
(2i) Article 23(7) is replaced by the following: "7. In order to take account of technical developments in financial markets and to ensure consistent harmonisation and the uniform application of paragraph 6, the Commission shall, in accordance with Articles 27, 27a and 27b, adopt implementing measures stating that, by reason of its domestic law, regulations, or administrative provisions, a third country ensures the equivalence of the independence requirements provided for under this Directive and delegated acts adopted under this Directive. The Commission shall also lay down, by means of delegated acts in accordance with Articles 27, 27a and 27b, measures aimed at establishing general equivalence criteria for the purpose of the first subparagraph. [...] The draft delegated acts shall be drawn up by the European Securities and Markets Authority."
Amendment 215 #
Proposal for a directive – amending act
Article 7 – point 3 a (new)
Article 7 – point 3 a (new)
Directive 2004/109/EC
Chapter VI – title
Chapter VI – title
(3a) The title of Chapter VI is replaced by the following: "DELEGATED ACTS AND IMPLEMENTING MEASURES"
Amendment 216 #
Proposal for a directive – amending act
Article 7 – point 3 b (new)
Article 7 – point 3 b (new)
Directive 2004/109/EC
Article 27 – paragraph 2a
Article 27 – paragraph 2a
(3b) Article 27(2a) is replaced by the following: "2a. The power to adopt the delegated acts referred to in Articles 2(3), 5(6), 9(7), 12(8) 13(2) 14(2), 17(4) 18(5), 19(4) 21(4), 23(4), 23(5) and 23(7) shall be conferred on the Commission for an indeterminate period of time."
Amendment 217 #
Proposal for a directive – amending act
Article 7 – point 3 c (new)
Article 7 – point 3 c (new)
Directive 2004/109/EC
Article 27 – paragraph 2a a (new)
Article 27 – paragraph 2a a (new)
(3c) In Article 27, the following paragraph 2a a is inserted: "2aa. As soon as it adopts a delegated act, the Commission shall notify it simultaneously to the European Parliament and to the Council"
Amendment 218 #
Proposal for a directive – amending act
Article 7 – point 3 d (new)
Article 7 – point 3 d (new)
Directive 2004/109/EC
Article 27 – paragraph 2 a b (new)
Article 27 – paragraph 2 a b (new)
(3d) In Article 27, the following paragraph 2ab is inserted: "2ab. The power to adopt delegated acts shall be conferred on the Commission subject to the conditions laid down in Articles 27a and 27b."
Amendment 219 #
Proposal for a directive – amending act
Article 7 – point 3 e (new)
Article 7 – point 3 e (new)
Directive 2004/109/EC
Article 27 a (new)
Article 27 a (new)
(3e) The following Article is inserted: "Article 27a Revocation of the delegation 1. The delegation of power referred to in Articles 2(3), 5(6), 9(7), 12(8) 13(2) 14(2), 17(4) 18(5), 19(4) 21(4), 23(4), 23(5) and 23(7) may be revoked by the European Parliament or by the Council. 2. The institution which has commenced an internal procedure for deciding whether to revoke the delegation of power shall endeavour to inform the other institution and the Commission stating the delegated powers which could be subject to revocation. The decision of revocation shall put an end to the delegation of the powers specified in that decision. It shall take effect immediately or at a later date specified therein. It shall not affect the validity of the delegated acts already in force. It shall be published in the Official Journal of the European Union."
Amendment 220 #
Proposal for a directive – amending act
Article 7 – point 3 f (new)
Article 7 – point 3 f (new)
Directive 2004/109/EC
Article 27 b (new)
Article 27 b (new)
(3f) The following Article is inserted: "Article 27b Objections to delegated acts 1. The European Parliament or the Council may object to a delegated act within a period of four months from the date of notification. At the initiative of the European Parliament or the Council this period shall be extended by two months. 2. If, on the expiry of that period, neither the European Parliament nor the Council has objected to the delegated act, it shall enter into force at the date stated therein. If the European Parliament or the Council objects to a delegated act, it shall not enter into force."
Amendment 229 #
Proposal for a directive – amending act
Article 8 – point 2 a (new)
Article 8 – point 2 a (new)
Directive 2005/60/EC
Chapter VI – title
Chapter VI – title
(2a) The title of Chapter VI is replaced by the following: "DELEGATED ACTS"
Amendment 230 #
Proposal for a directive – amending act
Article 8 – point 2 b (new)
Article 8 – point 2 b (new)
Directive 2005/60/EC
Article 40 – paragraph 1 – subparagraph 1
Article 40 – paragraph 1 – subparagraph 1
(2b) In Article 40(1), the first subparagraph is replaced by the following: "1. In order to take account of technical developments in the fight against money laundering or terrorist financing and to ensure consistent harmonisation and uniform implementation of this Directive, the Commission shall, [...] adopt the following [...] measures:"
Amendment 231 #
Proposal for a directive – amending act
Article 8 – point 2 c (new)
Article 8 – point 2 c (new)
Directive 2005/60/EC
Article 40 – paragraph 1 – subparagraph 2
Article 40 – paragraph 1 – subparagraph 2
Amendment 232 #
Proposal for a directive – amending act
Article 8 – point 2 d (new)
Article 8 – point 2 d (new)
Directive 2005/60/EC
Article 40 – paragraph 1 – subparagraph 2 a (new)
Article 40 – paragraph 1 – subparagraph 2 a (new)
(2d) In Article 40(1), the following subparagraph is added: "The draft delegated acts shall be drawn up by the ESA within the framework of the Joint Committee of the European Supervisory Authorities.";
Amendment 233 #
Proposal for a directive – amending act
Article 8 – point 2 e (new)
Article 8 – point 2 e (new)
Directive 2005/60/EC
Article 40 – paragraph 3 – subparagraph 2
Article 40 – paragraph 3 – subparagraph 2
(2e) In Article 40(3), the second subparagraph is replaced by the following: "The measures [...] shall be adopted by means of delegated acts in accordance with Articles 41, 41a and 41b.";
Amendment 234 #
Proposal for a directive – amending act
Article 8 – point 2 f (new)
Article 8 – point 2 f (new)
Directive 2005/60/EC
Article 40 – paragraph 3 – subparagraph 2 a (new)
Article 40 – paragraph 3 – subparagraph 2 a (new)
(2f) In Article 40(3), the following subparagraph is added: "The draft delegated acts shall be drawn up by the ESA within the framework of the Joint Committee of the European Supervisory Authorities.";
Amendment 235 #
Proposal for a directive – amending act
Article 8 – point 2 g (new)
Article 8 – point 2 g (new)
Directive 2005/60/EC
Article 40 – paragraph 4
Article 40 – paragraph 4
(2g) Article 40(4) is replaced by the following: "Where the Commission finds that a third country does not meet the conditions laid down in Article 11(1) or (2), Article 28(3), (4) or (5), or in the measures established in accordance with paragraph 1(b) of this Article or in Article 16(1)(b), or that the legislation of that third country does not permit application of the measures required under the first subparagraph of Article 31(1), it shall adopt a decision so stating by means of delegated acts in accordance with Articles 41, 41a and 41b.";
Amendment 236 #
Proposal for a directive – amending act
Article 8 – point 2 h (new)
Article 8 – point 2 h (new)
Directive 2005/60/EC
Article 40 – paragraph 4 – subparagraph 1 a (new)
Article 40 – paragraph 4 – subparagraph 1 a (new)
Amendment 237 #
Proposal for a directive – amending act
Article 8 – point 2 i (new)
Article 8 – point 2 i (new)
Directive 2005/60/EC
Article 41 – paragraph 2 a
Article 41 – paragraph 2 a
(2i) Article 41(2a) is replaced by the following: "2a. The power to adopt delegated acts referred to in Article 40 shall be conferred on the Commission for an indeterminate period of time.";
Amendment 238 #
Proposal for a directive – amending act
Article 8 – point 2 j (new)
Article 8 – point 2 j (new)
Directive 2005/60/EC
Article 41 – paragraphs 2 b and 2 c (new)
Article 41 – paragraphs 2 b and 2 c (new)
(2j) In Article 41, the following paragraphs 2b and 2c are inserted: "2b. As soon as it adopts a delegated act, the Commission shall notify it simultaneously to the European Parliament and to the Council. 2c. The power to adopt delegated acts is conferred on the Commission subject to the conditions laid down in Articles 41a and 41b.";
Amendment 239 #
Proposal for a directive – amending act
Article 8 – point 2 k (new)
Article 8 – point 2 k (new)
Directive 2005/60/EC
Article 41 – paragraph 3
Article 41 – paragraph 3
(2k) The third paragraph of Article 41 is deleted;
Amendment 240 #
Proposal for a directive – amending act
Article 8 – point 2 l (new)
Article 8 – point 2 l (new)
Directive 2005/60/EC
Article 41 a (new)
Article 41 a (new)
(2l) The following article is inserted: "Article 41a Revocation of the delegation 1. The delegation of powers referred to in Article 40 may be revoked by the European Parliament or by the Council. 2. The institution which has commenced an internal procedure for deciding whether to revoke the delegation of powers shall endeavour to inform the other institution and the Commission stating the delegated powers which could be subject to revocation. 3. The revocation decision shall put an end to the delegation of the powers specified in that decision. It shall take effect immediately or at a later date specified therein. It shall not affect the validity of the delegated acts already in force. It shall be published in the Official Journal of the European Union.";
Amendment 241 #
Proposal for a directive – amending act
Article 8 – point 2 m (new)
Article 8 – point 2 m (new)
Directive 2005/60/EC
Article 41 b (new)
Article 41 b (new)
(2m) The following article is inserted: "Article 41b Objections to delegated acts 1. The European Parliament or the Council may object to a delegated act within a period of four months from the date of notification. At the initiative of the European Parliament or the Council this period shall be extended by two months. 2. If, on the expiry of that period, neither the European Parliament nor the Council has objected to the delegated act, it shall enter into force at the date stated therein. If the European Parliament or the Council objects to a delegated act, it shall not enter into force.".
Amendment 317 #
Proposal for a directive – amending act
Article 9 – point 29 a (new)
Article 9 – point 29 a (new)
Directive 2006/48/EC
Title VI – title
Title VI – title
(29a) The title of Title VI is replaced by the following. "DELEGATED ACTS AND POWERS OF EXECUTION"
Amendment 318 #
Proposal for a directive – amending act
Article 9 – point 29 b (new)
Article 9 – point 29 b (new)
Directive 2006/48/EC
Article 150 – paragraph 1 – introductory wording
Article 150 – paragraph 1 – introductory wording
(29b) The first subparagraph ofArticle 150(1) is replaced by the following: "1. Without prejudice, as regards own funds, to the proposal that the Commission is to submit pursuant to Article 62, the technical adjustments [...] shall be adopted by means of delegated acts in accordance with [...] Articles 151, 151a, and 151 b:";
Amendment 319 #
Proposal for a directive – amending act
Article 9 – point 29 c (new)
Article 9 – point 29 c (new)
Directive 2006/48/EC
Article 150 – paragraph 1 – subparagraph 1 a
Article 150 – paragraph 1 – subparagraph 1 a
(29c) In Article 150(1), the following subparagraph is added: "The draft delegated acts shall be drawn up by the European Banking Authority.";
Amendment 325 #
Proposal for a directive – amending act
Article 9 – point 30 b (new)
Article 9 – point 30 b (new)
Directive 2006/48/EC
Article 150 – paragraph 2 – subparagraph 1
Article 150 – paragraph 2 – subparagraph 1
(30b) The introductory wording contained in the first subparagraph of Article 150(2) is replaced by the following: "The Commission may adopt the following [...] measures:"
Amendment 326 #
Proposal for a directive – amending act
Article 9 – point 30 c (new)
Article 9 – point 30 c (new)
Directive 2006/48/EC
Article 150 – paragraph 2 – subparagraph 2
Article 150 – paragraph 2 – subparagraph 2
(30c) The second subparagraph of Article 150(2) is replaced by the following: "These measures shall be adopted by means of delegated acts in accordance with [...] Articles 151, 151a, 151b.";
Amendment 327 #
Proposal for a directive – amending act
Article 9 – point 30 d (new)
Article 9 – point 30 d (new)
Directive 2006/48/EC
Article 150 – paragraph 2 – subparagraph 2 a (new)
Article 150 – paragraph 2 – subparagraph 2 a (new)
(30) In Article 150(2), the following subparagraph is added: "The draft delegated acts shall be drawn up by the European Banking Authority.";
Amendment 328 #
Proposal for a directive – amending act
Article 9 – point 30 e (new)
Article 9 – point 30 e (new)
Directive 2006/48/EC
Article 151 – paragraph 2
Article 151 – paragraph 2
(30e) Article 151(2) is replaced by the following: "2. The power to adopt delegated acts referred to in Article 150 shall be conferred on the Commission for an indeterminate period of time.";
Amendment 329 #
Proposal for a directive – amending act
Article 9 – point 30 f (new)
Article 9 – point 30 f (new)
Directive 2006/48/EC
Article 151 – paragraph 2 a
Article 151 – paragraph 2 a
(30f) Article 151(2a) is replaced by the following: "2a. As soon as it adopts a delegated act, the Commission shall notify it simultaneously to the European Parliament and to the Council.";
Amendment 330 #
Proposal for a directive – amending act
Article 9 – point 30 g (new)
Article 9 – point 30 g (new)
Directive 2006/48/EC
Article 151 – paragraph 2 b (new)
Article 151 – paragraph 2 b (new)
(30g) In Article 151, the following paragraph is inserted: "2b. The power to adopt delegated acts shall be conferred on the Commission subject to the conditions laid down in Articles 151a and 151b.";
Amendment 331 #
Proposal for a directive – amending act
Article 9 – point 30 h (new)
Article 9 – point 30 h (new)
Directive 2006/48/EC
Article 151 – paragraph 3
Article 151 – paragraph 3
(30h) Article 151(3) is deleted;
Amendment 332 #
Proposal for a directive – amending act
Article 9 – point 30 i (new)
Article 9 – point 30 i (new)
Directive 2006/48/EC
Article 151 a (new)
Article 151 a (new)
Amendment 333 #
Proposal for a directive – amending act
Article 9 – point 30 j (new)
Article 9 – point 30 j (new)
Directive 2006/48/EC
Article 151 b (new)
Article 151 b (new)
Amendment 338 #
Proposal for a directive – amending act
Article 10 – point 1 a (new)
Article 10 – point 1 a (new)
Directive 2006/49/EC
Section 2 – title (before Article 41)
Section 2 – title (before Article 41)
(1a) The title of Section 2 is replaced by the following: "Delegated acts and Powers of execution"
Amendment 339 #
Proposal for a directive – amending act
Article 10 – point 1 b (new)
Article 10 – point 1 b (new)
Directive 2006/49/EC
Article 41 – paragraph 2
Article 41 – paragraph 2
Amendment 340 #
Proposal for a directive – amending act
Article 10 – point 1 c (new)
Article 10 – point 1 c (new)
Directive 2006/49/EC
Article 42 – paragraph 2
Article 42 – paragraph 2
(1c) Article 42(2) is replaced by the following: "2. The power to adopt delegated acts referred to in Article 41 shall be conferred on the Commission for an indeterminate period of time."
Amendment 341 #
Proposal for a directive – amending act
Article 10 – point 1 d (new)
Article 10 – point 1 d (new)
Directive 2006/49/EC
Article 42 – paragraphs 2 a (new) and 2 b (new)
Article 42 – paragraphs 2 a (new) and 2 b (new)
(1d) In Article 42, the following 2 paragraphs are added: "2a. As soon as it adopts a delegated act, the Commission shall notify it simultaneously to the European Parliament and to the Council. 2b.The power to adopt delegated acts is conferred on the Commission subject to the conditions laid down in Articles 42a and 42b."
Amendment 342 #
Proposal for a directive – amending act
Article 10 – point 1 e (new)
Article 10 – point 1 e (new)
Directive 2006/49/EC
Article 42 a (new)
Article 42 a (new)
Amendment 343 #
Proposal for a directive – amending act
Article 10 – point 1 f (new)
Article 10 – point 1 f (new)
Directive 2006/49/EC
Article 42 b (new)
Article 42 b (new)
(1f) The following article is inserted after Article 42a: "Article 42b Objections to delegated acts 1. The European Parliament or the Council may object to a delegated act within a period of four months from the date of notification. At the initiative of the European Parliament or the Council this period shall be extended by two months. 2. If, on the expiry of that period, neither the European Parliament nor the Council has objected to the delegated act, it shall enter into force at the date stated therein. If the European Parliament or the Council objects to a delegated act, it shall not enter into force."
Amendment 352 #
Proposal for a directive – amending act
Article 11 – point 2 a (new) – point a
Article 11 – point 2 a (new) – point a
Directive 2009/65/EC
Article 12 – paragraph 3 – subparagraph 1
Article 12 – paragraph 3 – subparagraph 1
Amendment 353 #
Proposal for a directive – amending act
Article 11 – point 2 a (new) – point b
Article 11 – point 2 a (new) – point b
Directive 2009/65/EC
Article 12 – paragraph 3 – subparagraph 2
Article 12 – paragraph 3 – subparagraph 2
(b) The second subparagraph of Article 12(3) is deleted.
Amendment 354 #
Proposal for a directive – amending act
Article 11 – point 2 a (new) – point c
Article 11 – point 2 a (new) – point c
Directive 2009/65/EC
Article 12 – paragraph 3 – subparagraph 2 a (new)
Article 12 – paragraph 3 – subparagraph 2 a (new)
(c) The following subparagraph is added: "The draft delegated acts shall be drawn up by the European Securities and Markets Authority."
Amendment 356 #
Proposal for a directive – amending act
Article 11 – point 3
Article 11 – point 3
Directive 2009/65/EC
Article 12 – paragraph 4 – subparagraph 1
Article 12 – paragraph 4 – subparagraph 1
"4. In order to ensure uniform application of this Article, the European Securities and Markets Authority mayshall develop draft technical standards to determine the conditions of application of the implementing measures adopted by the Commission regarding the procedures, arrangements, structures and organisational requirements referred to in paragraph 3 of this Article.
Amendment 358 #
Proposal for a directive – amending act
Article 11 – point 3
Article 11 – point 3
Directive 2009/65/EC
Article 12 – paragraph 4 – subparagraph 2
Article 12 – paragraph 4 – subparagraph 2
The Commission may adopt the draft technical standards referred to in the first subparagraph in accordance with the procedure laid down infor implementing acts in accordance with Article 7291 of Regulation .../.... [ESMA]the Treaty on the Functioning of the European Union."
Amendment 359 #
Proposal for a directive – amending act
Article 11 – point 3 a (new) – point a
Article 11 – point 3 a (new) – point a
Directive 2009/65/EC
Article 14 – paragraph 2 – subparagraph 1
Article 14 – paragraph 2 – subparagraph 1
(3a) Article 14(2) is amended as follows: (a) The first subparagraph is replaced by the following: "2. Without prejudice to Article 116, the Commission shall adopt, by 1 July 2010, by means of delegated acts in accordance with Articles 112, 112a and 112b, measures, with a view to ensuring that the management company complies with the duties set out in paragraph 1, in particular to:"
Amendment 360 #
Proposal for a directive – amending act
Article 11 – point 3 a (new) – point b
Article 11 – point 3 a (new) – point b
Directive 2009/65/EC
Article 14 – paragraph 2 – subparagraph 2
Article 14 – paragraph 2 – subparagraph 2
(b) The second subparagraph is deleted.
Amendment 361 #
Proposal for a directive – amending act
Article 11 – point 3 a (new) – point c
Article 11 – point 3 a (new) – point c
Directive 2009/65/EC
Article 14 – paragraph 2 – subparagraph 2 a (new)
Article 14 – paragraph 2 – subparagraph 2 a (new)
(c) The following subparagraph is added: "The draft delegated acts shall be drawn up by the European Securities and Markets Authority."
Amendment 363 #
Proposal for a directive – amending act
Article 11 – point 4
Article 11 – point 4
Directive 2009/65/EC
Article 14 – paragraph 3 – subparagraph 1
Article 14 – paragraph 3 – subparagraph 1
"3. In order to ensure uniform application of this Article, the European Securities and Markets Authority mayshall develop draft technical standards to determine the conditions of application of the implementing measures adopted by the Commission regarding the criteria, principles and steps referred to in points (a), (b), and (c) of the first subparagraph 2 of this Article.
Amendment 365 #
Proposal for a directive – amending act
Article 11 – point 4
Article 11 – point 4
Directive 2009/65/EC
Article 14 – paragraph 3 – subparagraph 2
Article 14 – paragraph 3 – subparagraph 2
The Commission may adopt the draft technical standards referred to in the first subparagraph in accordance with the procedure laid down infor implementing acts pursuant to Article 7291 of Regulation .../.... [ESMA]the Treaty on the Functioning of the European Union."
Amendment 366 #
Proposal for a directive – amending act
Article 11 – point 5 a (new) – point a
Article 11 – point 5 a (new) – point a
Directive 2009/65/EC
Article 23 – paragraph 6 – subparagraph 1
Article 23 – paragraph 6 – subparagraph 1
(5a) Article 23(6) is amended as follows: (a) The first subparagraph is replaced by the following: "6. The Commission shall adopt, by means of delegated acts in accordance with Articles 112, 112a and 112b, measures in relation to the measures to be taken by a depositary in order to fulfil its duties regarding a UCITS managed by a management company established in another Member State, including the particulars that need to be included in the standard agreement to be used by the depositary and the management company in accordance with paragraph 5."
Amendment 367 #
Proposal for a directive – amending act
Article 11 – point 5 a (new) – point b
Article 11 – point 5 a (new) – point b
Directive 2009/65/EC
Article 23 – paragraph 6 – subparagraph 2
Article 23 – paragraph 6 – subparagraph 2
(b) The second subparagraph is deleted.
Amendment 368 #
Proposal for a directive – amending act
Article 11 – point 5 a (new) – point c
Article 11 – point 5 a (new) – point c
Directive 2009/65/EC
Article 23 – paragraph 6 – subparagraph 2 a (new)
Article 23 – paragraph 6 – subparagraph 2 a (new)
(c) In Article 23(6), the following subparagraph is added: "The draft delegated acts shall be drawn up by the European Securities and Markets Authority."
Amendment 373 #
Proposal for a directive – amending act
Article 11 – point 6 a (new) – point a
Article 11 – point 6 a (new) – point a
Directive 2009/65/EC
Article 33 – paragraph 6 – subparagraph 1
Article 33 – paragraph 6 – subparagraph 1
(6a) Article 33(6) is amended as follows: (a) The first subparagraph is replaced by the following: "6. The Commission shall adopt, by means of delegated acts in accordance with Articles 112, 112a and 112b, measures in relation to the measures to be taken by a depositary in order to fulfil its duties regarding a UCITS managed by a management company established in another Member State, including the particulars that need to be included in the standard agreement to be used by the depositary and the management company in accordance with paragraph 5."
Amendment 374 #
Proposal for a directive – amending act
Article 11 – point 6 a (new) – point b
Article 11 – point 6 a (new) – point b
Directive 2009/65/EC
Article 33 – paragraph 6 – subparagraph 2
Article 33 – paragraph 6 – subparagraph 2
(b) The second subparagraph is deleted.
Amendment 375 #
Proposal for a directive – amending act
Article 11 – point 6 a (new) – point c
Article 11 – point 6 a (new) – point c
Directive 2009/65/EC
Article 33 – paragraph 6 – subparagraph 2 a (new)
Article 33 – paragraph 6 – subparagraph 2 a (new)
(c) The following subparagraph is added: "The draft delegated acts shall be drawn up by the European Securities and Markets Authority."
Amendment 376 #
Proposal for a directive – amending act
Article 11 – point 6 b (new) – point a
Article 11 – point 6 b (new) – point a
Directive 2009/65/EC
Article 43 – paragraph 5 – first subparagraph
Article 43 – paragraph 5 – first subparagraph
(6b) Article 43(5) is amended as follows: (a) The first subparagraph is replaced by the following: "5. The Commission shall adopt, by means of delegated acts in accordance with Articles 112, 112a and 112b, measures specifying the detailed content, format and method by which to provide the information referred to in paragraphs 1 and 3."
Amendment 377 #
Proposal for a directive – amending act
Article 11 – point 6 b (new) – point b
Article 11 – point 6 b (new) – point b
Directive 2009/65/EC
Article 43 – paragraph 5 – second subparagraph
Article 43 – paragraph 5 – second subparagraph
(b) The second subparagraph is deleted.
Amendment 378 #
Proposal for a directive – amending act
Article 11 – point 6 b (new) – point c
Article 11 – point 6 b (new) – point c
Directive 2009/65/EC
Article 43 – paragraph 5 – subparagraph 2 a (new)
Article 43 – paragraph 5 – subparagraph 2 a (new)
(c) The following subparagraph is added: "The draft delegated acts shall be drawn up by the European Securities and Markets Authority."
Amendment 380 #
Proposal for a directive – amending act
Article 11 – point 7
Article 11 – point 7
Directive 2009/65/EC
Article 43 – paragraph 6 – subparagraph 1
Article 43 – paragraph 6 – subparagraph 1
"6. In order to ensure uniform application of this Article, the European Securities and Markets Authority mayshall develop draft technical standards to determine the conditions of application of the implementing measures adopted by the Commission regarding the content, format and method by which the information referred to in paragraphs 1 and 3 of this Article should be provided.
Amendment 382 #
Proposal for a directive – amending act
Article 11 – point 7
Article 11 – point 7
Directive 2009/65/EC
Article 43 – paragraph 6 – subparagraph 2
Article 43 – paragraph 6 – subparagraph 2
The Commission may adopt the draft technical standards referred to in the first subparagraph in accordance with the procedure laid down infor implementing acts in accordance with Article 7291 of Regulation .../.... [ESMA]the Treaty on the Functioning of the European Union."
Amendment 387 #
Proposal for a directive – amending act
Article 11 – point 9 – point -a (new)
Article 11 – point 9 – point -a (new)
Directive 2009/65/EC
Article 51 – paragraph 4 (new)
Article 51 – paragraph 4 (new)
Amendment 390 #
Proposal for a directive – amending act
Article 11 – point 9 – point a
Article 11 – point 9 – point a
Directive 2009/65/EC
Article 51 – paragraph 5
Article 51 – paragraph 5
Amendment 391 #
Proposal for a directive – amending act
Article 11 – point 9 a (new) – point a
Article 11 – point 9 a (new) – point a
Directive 2009/65/EC
Article 60 – paragraph 6 – subparagraph 1
Article 60 – paragraph 6 – subparagraph 1
(9a) Article 60(6) is amended as follows: (a) The first subparagraph is replaced by the following: "6. The Commission shall adopt, by means of delegated acts in accordance with Articles 112, 112a and 112b, [...] measures specifying:"
Amendment 392 #
Proposal for a directive – amending act
Article 11 – point 9 a (new) – point b
Article 11 – point 9 a (new) – point b
Directive 2009/65/EC
Article 60 – paragraph 6 – second subparagraph
Article 60 – paragraph 6 – second subparagraph
(b) The second subparagraph is deleted.
Amendment 393 #
Proposal for a directive – amending act
Article 11 – point 9 a (new) – point c
Article 11 – point 9 a (new) – point c
Directive 2009/65/EC
Article 60 – paragraph 6 – subparagraph 2 a (new)
Article 60 – paragraph 6 – subparagraph 2 a (new)
(c) The following subparagraph is added: "The draft delegated acts shall be drawn up by the European Securities and Markets Authority."
Amendment 396 #
Proposal for a directive – amending act
Article 11 – point 10
Article 11 – point 10
Directive 2009/65/EC
Article 60 – paragraph 7
Article 60 – paragraph 7
"7. In order to ensure uniform application of this Article, the European Securities and Markets Authority mayshall develop draft technical standards to determine the conditions of application of the implementing measures adopted by the Commission regarding the agreement, measures and procedures referred to in points (a), (b) and (c) of paragraph 6. The Commission may adopt the draft technical standards referred to in the first subparagraph in accordance with the procedure laid down infor implementing acts in accordace with Article 7291 of Regulation .../.... [ESMA]the Treaty on the Functioning of the European Union."
Amendment 399 #
Proposal for a directive – amending act
Article 11 – point 11 – point -a (new)
Article 11 – point 11 – point -a (new)
Directive 2009/65/EC
Article 61 – paragraph 3 (new)
Article 61 – paragraph 3 (new)
(11) Article 61 is amended as follows: (-a) The third paragraph is replaced by the following "3. The Commission shall adopt, by means of delegated acts in accordance with Articles 112, 112a and 112b, measures further specifying the following: (a) the particulars that need to be included in the agreement referred to in paragraph 1; and (b) the types of irregularities referred to in paragraph 2 which are deemed to have a negative impact on the feeder UCITS. [...] The draft delegated acts shall be drawn up by the European Securities and Markets Authority."
Amendment 400 #
Proposal for a directive – amending act
Article 11 – point 11 - point a
Article 11 – point 11 - point a
Directive 2009/65/EC
Article 61 – paragraph 4
Article 61 – paragraph 4
Amendment 401 #
Proposal for a directive – amending act
Article 11 – point 11 a (new)
Article 11 – point 11 a (new)
Directive 2009/65/EC
Article 62 – paragraph 4
Article 62 – paragraph 4
Amendment 404 #
Proposal for a directive – amending act
Article 11 – point 12 – point -a (new)
Article 11 – point 12 – point -a (new)
Directive 2009/65/EC
Article 64 – paragraph 4 (new)
Article 64 – paragraph 4 (new)
(12) Article 64 is amended as follows: (-a) The forth paragraph is replaced by the following: "4. The Commission shall adopt, by means of delegated acts in accordance with Articles 112, 112a and 112b, measures specifying: (a) the format and the manner in which to provide the information referred to in paragraph 1; or (b) in the event that the feeder UCITS transfers all or parts of its assets to the master UCITS in exchange for units, the procedure for valuing and auditing such a contribution in kind and the role of the depositary of the feeder UCITS in that process. [...] The draft delegated acts shall be drawn up by the European Securities and Markets Authority."
Amendment 405 #
Proposal for a directive – amending act
Article 11 – point 12 – point a
Article 11 – point 12 – point a
Directive 2009/65/EC
Article 64 – paragraph 5
Article 64 – paragraph 5
Amendment 410 #
Proposal for a directive – amending act
Article 11 – point 13 a (new)
Article 11 – point 13 a (new)
Directive 2009/65/EC
Article 75 – paragraph 4
Article 75 – paragraph 4
(13a) Article 75(4) is replaced by the following: "4. The Commission shall adopt, by means of delegated acts in accordance with Articles 112, 112a and 112b, measures which define the specific conditions which need to be met when providing the prospectus in a durable medium other than paper or by means of a website which does not constitute a durable medium. [...] The draft delegated acts shall be drawn up by the European Securities and Markets Authority."
Amendment 413 #
Proposal for a directive – amending act
Article 11 – point 14 – point -a (new)
Article 11 – point 14 – point -a (new)
Directive 2009/65/EC
Article 78 – paragraph 7 (new)
Article 78 – paragraph 7 (new)
Amendment 414 #
Proposal for a directive – amending act
Article 11 – point 14 – point a
Article 11 – point 14 – point a
Directive 2009/65/EC
Article 78 – paragraph 8
Article 78 – paragraph 8
Amendment 415 #
Proposal for a directive – amending act
Article 11 – point 14 a (new)
Article 11 – point 14 a (new)
Directive 2009/65/EC
Article 81 – paragraph 2
Article 81 – paragraph 2
(14a) Article 81(2) is replaced by the following: "2. The Commission shall adopt, by means of delegated acts in accordance with Articles 112, 112a and 112b, measures which define the specific conditions which need to be met when providing key investor information in a durable medium other than on paper or by means of a website which does not constitute a durable medium. [...] The draft delegated acts shall be drawn up by the European Securities and Markets Authority."
Amendment 424 #
Proposal for a directive – amending act
Article 11 – point 16 – point -a (new)
Article 11 – point 16 – point -a (new)
Directive 2009/65/EC
Article 95 – paragraph 1
Article 95 – paragraph 1
(16) Article 95 is amended as follows: (-a) The first paragraph is replaced by the following: "1. The Commission shall adopt, by means of delegated acts in accordance with Articles 112, 112a and 112b, measures specifying: (a) the scope of the information referred to in Article 91(3); (b) the facilitation of access for the competent authorities of the UCITS host Member States to the information or documents referred to in Article 93(1), (2) and (3) in accordance with Article 93(7). [...] The draft delegated acts shall be drawn up by the European Securities and Markets Authority."
Amendment 425 #
Proposal for a directive – amending act
Article 11 – point 16 – point a
Article 11 – point 16 – point a
Directive 2009/65/EC
Article 95 – paragraph 2
Article 95 – paragraph 2
Amendment 434 #
Proposal for a directive – amending act
Article 11 – point 20 a (new)
Article 11 – point 20 a (new)
Directive 2009/65/EC
Chapter XIII – title (before Article 111)
Chapter XIII – title (before Article 111)
(20a) The title of chapter XIII is replaced by the following: "DELEGATED ACTS AND POWERS OF EXECUTION"
Amendment 435 #
Proposal for a directive – amending act
Article 11 – point 20 b (new)
Article 11 – point 20 b (new)
Directive 2009/65/EC
Article 111
Article 111
(20b) Article 111 is replaced by the following: "Article 111 The Commission shall adopt technical amendments to this Directive in the following areas: (a) clarification of the definitions in order to ensure consistent harmonisation and uniform application of this Directive throughout the Community; or (b) alignment of terminology and the framing of definitions in accordance with subsequent acts on UCITS and related matters. Those measures [...] shall be adopted by means of delegated acts in accordance with Articles 112, 112a and 112b. The draft of the delegated acts shall be drawn up by the European Securities and Markets Authority."
Amendment 436 #
Proposal for a directive – amending act
Article 11 – point 20 c (new)
Article 11 – point 20 c (new)
Directive 2009/65/EC
Article 112
Article 112
(20c) Article 112 is replaced by the following: "Article 112 1. The Commission shall be assisted by the European Securities Committee established by Commission Decision 2001/528/EC. 2. The power to adopt delegated acts referred to in Articles 12, 14, 23, 33, 43, 51, 60, 61, 62, 64, 75, 78, 81, 95 and 111 shall be conferred on the Commission for an indeterminate period of time. 2a. As soon as it adopts a delegated act, the Commission shall notify it simultaneously to the European Parliament and to the Council. 2b. The power to adopt delegated acts is conferred on the Commission subject to the conditions laid down in Articles 112a and 112b. 3. Where reference is made to this paragraph, Articles 5 and 7 of Decision 1999/468/EC shall apply, having regard to the provisions of Article 8 thereof. The period laid down in Article 5(6) of Decision 1999/468/EC shall be set at three months."
Amendment 437 #
Proposal for a directive – amending act
Article 11 – point 20 d (new)
Article 11 – point 20 d (new)
Directive 2009/65/EC
Article 112 a (new)
Article 112 a (new)
(20d) The following article is inserted after Article 112: "Article 112a Revocation of the delegation 1. The delegation of powers referred to in Articles 12, 14, 23, 33, 43, 51, 60, 61, 62, 64, 75, 78, 81, 95 and 111 may be revoked by the European Parliament or by the Council. 2. The institution which has commenced an internal procedure for deciding whether to revoke the delegation of powers shall endeavour to inform the other institution and the Commission, stating the delegated powers which could be subject to revocation. 3. The revocation decision shall put an end to the delegation of the powers specified in that decision. It shall take effect immediately or at a later date specified therein. It shall not affect the validity of the delegated acts already in force. It shall be published in the Official Journal of the European Union."
Amendment 438 #
Proposal for a directive – amending act
Article 11 – point 20 e (new)
Article 11 – point 20 e (new)
Directive 2009/65/EC
Article 112 b (new)
Article 112 b (new)
(20e) The following article is inserted after Article 112a: "Article 112b Objections to delegated acts 1. The European Parliament or the Council may object to a delegated act within a period of four months from the date of notification. At the initiative of the European Parliament or the Council this period shall be extended by two months. 2. If, on the expiry of that period, neither the European Parliament nor the Council has objected to the delegated act, it shall enter into force at the date stated therein. If the European Parliament or the Council objects to a delegated act, it shall not enter into force."